“We’re expecting pretty significant traffic as these 104 stores get underway, just as we saw with the initial group of 159 stores,” Aaron Miller, an executive vice president with SB360, told USA TODAY.

Fred's is closing 104 more stores, which represent 18% of the company. Mississippi, Arkansas, Georgia and Tennessee are losing the most locations.(Photo: SB360 Capital Partners)

The stores from the first round are expected to close by the end of May, Miller said.

Ziggy Schaffer, an executive vice president with SB360, said stores will continue to replenish staples like milk, eggs, beverages and household cleaning supplies.

“It really makes it a one-stop destination,” Schaffer said. “The grocery aspect of being replenished every day with fresh products is very attractive, especially given the discounts offered off everyday low prices. It’s very beneficial for the customers.”

In April, Fred's said it had 557 stores in 13 states. After the 263 closures, representing 46% of the company, there will be 294 remaining locations.

Fred's isn't the only retailer shuttering locations.

Based on figures from global marketing research firm Coresight Research, bankruptcy filings and company earnings reports, more than 6,500 stores are slated to close in 2019.

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